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Post subject: Traded in my 66 P-bass for this...
Posted: Tue Jun 28, 2016 8:04 pm
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I've been looking for a 62 for a while, and pulled the trigger on this one. They gave me $4500 for my p-bass based on the pictures I sent. I haven't received the 62 yet, but I will have 3 days to decide once I receive it. I know you can find them for less, but lately all original pre-CBS have been getting top dollar. Aside from the neck, not sure what I should check for when I receive it. Check it out!

http://oliviasvintageguitars.com/fender/guitars/5126/

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Post subject: Re: Traded in my 66 P-bass for this...
Posted: Thu Jun 30, 2016 1:30 pm
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66 to 62 is a nice upgrade! I have one very similar, three burst also, and enjoy it. I am pretty sure you will be well pleased.

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Post subject: Re: Traded in my 66 P-bass for this...
Posted: Fri Jul 01, 2016 2:33 pm
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The pictures look great I hope you enjoy it 8)

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Post subject: Re: Traded in my 66 P-bass for this...
Posted: Sun Jul 03, 2016 9:06 am
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Spumoni wrote:
Aside from the neck, not sure what I should check for when I receive it. Check it out!

http://oliviasvintageguitars.com/fender/guitars/5126/

I did check it out and I do not see one thing, not one, of any concern. The only things to check would be to make sure the truss rod and electronics are all functional, and of course that you are happy the first time you play it.

If you plan on taking it out to play then I would get a new generic case and store the original case and remaining case candy for any future sale or trade of the instrument.

It is so unusual to find any case candy left in these that I have to say congratulations! It looks exactly like one I'd take a very close look at myself.


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Post subject: Re: Traded in my 66 P-bass for this...
Posted: Mon Jul 04, 2016 9:46 am
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Thanks for the feedback! The bass was absolutely as described, probably even better. It plays fantastically, and all the electronics work - pots seem very clean. I immediately changed the strings to flat-wounds, and popped the neck off just to see the hand written "62" and to make sure it didn't say "funk machine" anywhere.

I have not removed the guard to check the dates on the pots, but I really trust this seller and can't recommend them enough!

P.S. I noticed the top pick guard screws appear to be going in at a severe angle - perhaps the guard shrunk a little over time?

Should I get this verified somewhere, or do you think I'm good to go?

Thanks again for the advice.

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Post subject: Re: Traded in my 66 P-bass for this...
Posted: Mon Jul 04, 2016 11:25 pm
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Spumoni wrote:
...The bass was absolutely as described, probably even better. It plays fantastically, and all the electronics work - pots seem very clean. I...popped the neck off just to see the hand written "62"...

I have not removed the guard to check the dates on the pots, but I really trust this seller...

P.S. I noticed the top pick guard screws appear to be going in at a severe angle - perhaps the guard shrunk a little over time?

Should I get this verified somewhere, or do you think I'm good to go? ....


According to the pot codes I saw in the photos at the linkage you provided which I enlarged for closer inspection the pots are coded for week 52 of 1961 which is right on the money. That would be the last week in December 1961.

I would be more surprised if the celluloid had not had some shrinkage. The metal shielding plate should still line up exactly with the holes in the wood though.

Also I believe that James L. Jamerson Jr has been quoted as saying that while it is a 1962 model the Funk Machine is actually penciled 1963.

As I said I see absolutely nothing out of place on yours, however I have missed little things before that George Gruhn has caught. Unquestionably Gruhn's is the most respected authority on appraisals of vintage Fenders and all other US made fretted stringed instruments. It would not hurt to have a hard copy of an appraisal from Gruhn's on any vintage instrument for insurance purposes. George Gruhn offers a very affordable $50 online appraisal and you could use the photos you have posted here by downloading them then attaching them. Here is the link to his range of appraisal services: https://guitars.com/appraisals

If you plan to go to Gruhn's for an in person appraisal (far more expensive but also way more thorough, in depth and accurate than a photo appraisal) be sure to make an appointment first. One must never show up at Gruhn's unexpectedly for vintage shopping, selling collector class instruments or obtaining an in person vintage appraisal. To do any of that you need to get to the second floor and without an appointment being admitted to the second floor is improbable.


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Post subject: Re: Traded in my 66 P-bass for this...
Posted: Wed Jul 06, 2016 8:41 pm
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Thanks for all the info Brother Dave! I followed your advice and paid for an online appraisal. Before doing so, George told me it was probably not necessary considering I purchased it from Olivia's. He apparently holds them to a very high standard. I told him maybe there is something you will catch in the photos they didn't. Fortunately, he found nothing suspicious, and appraised the guitar at 9k which is about 500 less than what I paid. I don't mind too much because I can't imagine this thing ever depreciating... unless I decide to give it a really cool custom paint job. (that's not even funny!). Thanks again for all the info.

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Post subject: Re: Traded in my 66 P-bass for this...
Posted: Fri Jul 08, 2016 2:08 am
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Spumoni wrote:
...Fortunately, he found nothing suspicious, and appraised the guitar at 9k which is about 500 less than what I paid...


Yes you made out okay then,, especially on the trade deal. Just know that appraisals are intended to be a valid reference toward the RETAIL value of the instrument in the event of an insurance claim for several years into the future. Therefore some allowance for both inflation and value appreciation is always built into an appraisal so you don't get taken too badly by the insurance company if something should happen three or four years from now. The figure is not what you could sell it for yourself today, but is an estimate of what it would cost to replace which should be valid for three years up to five years.

Your bass actually would likely sell at retail right now at another vintage dealer for about the same thing you paid or maybe a tad less. Typically 10% less than appraisal is fairly common. It should appreciate eventually to more than you paid and it probably will not take long to do so if market conditions continue to grow as they have over the past few years. The past two years have been very encouraging.

There was a major "adjustment" (a softer term than "price crash") in the vintage instrument market which started about 10 to 12 years ago when the vintage market first stagnated and then prices fell fairly sharply as a result. Early CBS era things were hurt the worst but even highly desirable and scarce Pre-CBS collectible class instruments also slipped an uncomfortable amount. Worse it took years to start recovering. Prices on Pre-CBS started to recover about 4 years ago and have been rising since. Only in the past 2 years has CBS stuff started to gain back some of what it lost. In fact it seems like CBS stuff has recovered more percentage wise since bottoming out, but that is only because the CBS stuff dropped so much more than Pre-CBS. There are two lessons in this. The first lesson is that Pre-CBS holds a larger percentage of value in a stagnant or downward trending market. The second lesson is to buy a vintage Fender because you LIKE it and WANT it and not because you expect to make a fortune turning it over in a year or two.

When times get tough investors look for hard investments such as gold and silver and sell their collectibles to raise cash to do it. This surge of investor owned Fenders into an already stagnant market drove prices even lower. The US government did not offer a bail out to vintage instrument owners or dealers like they did the banks, brokerage firms and auto makers. It was a difficult time which impacted not just vintage guitars but all types of collectibles like sports memorabilia, middle line art and classic cars.

Everything seems to run in cycles of boom/bust/boom. The vintage Fender market is seeing steady growth now, but not quite a boom.

Many investors and particularly a handful of Japanese ones who had been dominating purchases of the most desirable instruments from 1996 till about 2004 are not likely to come back into the vintage market. What we are experiencing now is a gradual return to actually what the instruments are worth driven by actual collectors/players and not business types looking to "clean up" in the vintage guitar market. That is a more healthy model for long term growth.

I think Pre-CBS instruments, and especially the Pre-CBS basses, are still undervalued relative to their scarcity making now the time to buy one if you luck into one you really like, want and can afford. Note you should only buy it if you WANT it because there is no guarantee you will ever recover all your investment. You might, or you might not. Congrats on your find. It is really, really nice.
(edited for spelling error)


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Post subject: Re: Traded in my 66 P-bass for this...
Posted: Sun Jul 17, 2016 12:31 pm
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Brother Dave - Wow, thanks for that incredible overview - I had an idea that it wouldn't be too stupid of a move, especially since I really enjoy and love the bass, but now I'm even more confident. You clearly know your stuff, and I really appreciate your taking the time to point all of these things out.

Most importantly, I can't believe how well this thing plays!

Thanks again...

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CS 67 Closet Classic Tele
CS 55 Precision bass
1966 Precision Bass
2013 Martin HD35
74 Rhodes 88
Twin Reverb reissue


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